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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (40267)	3/18/1999 12:10:00 AM
From: Lee Fredrickson	Read Replies (1) \| Respond to of 95453

Big Dog, He (Matt Simmons) has an article on depletion in the latest on-line issue of 'Offshore', a sister publication to Oil and Gas Journal. I've been asked by them not to violate their copyrights, but those who subscribe will find it in the newly posted issue. Haven't read it yet,or I'd attempt a summary. Lee [edit] Here's their home page URL, subscription is ~$75.00/yr. and provides some interesting nuts and bolts info on the Patch. ogjonline.com

To: Big Dog who wrote (40267)	3/18/1999 8:28:00 AM
From: marc chatman	Read Replies (1) \| Respond to of 95453

That's possibly the most encouraging fundamental news I've heard. Thanks for sharing it, Big Dog. IMO, Simmons & Co. are keyed in better than any other oil analysts. (Someone I went to college with was with Simmons for awhile.) Were his comments on depletion referring to oil only, or did you also discuss nat. gas? On a different matter, I noticed that the GOM lease auction pretty much sucked, as expected. About $1 billion less than last year. My feeling is that shouldn't matter. At the last several auctions, the E&P's acquired enough blocks to keep them busy for years. And, perhaps, just as the record breaking auctions marked a top for the OS sector, the weak auction this year could have marked a 'you know what.' BTW, 75% of the blocks auctioned were deep water.